How Do You Find The Right People? Is it #1, #2, or #3? | Investing
Here is your mission: Find the best investment opportunity you can, in a new location.
Here are the details: You are in a foreign country where you don’t understand the language, the currency is different, the food is strange, and you don’t know anyone.
What do you do? How do you find an investment opportunity?
Well, there are three answers:
#1 – You don’t find anything. Instead, you avoid the situation all together and you simply move onto an area that you’re familiar with. (Keep in mind that this goes completely against what the Explorer Report is all about. We want to explore for opportunities that others are avoiding or don’t know about. That’s how we are going to make our big gains.)
#2 – You start hitting the streets. You try to meet people and strike up conversations in whatever language you know. You spend months – if not, years – trying to plug yourself into the community so you can meet the most important people and get access to the best deals.
#3 – You leverage your network.
Since we’re not even going to consider #1, that leaves us with two options – #2 and #3.
#2 is not only extremely time consuming, but it’s also very expensive. Additionally, it requires you to dedicate a significant time period in your life to immerse yourself in the foreign location. Some people do this and they become the expert in that location. They become the person that all outside investors go to. However, for most, this is totally unrealistic. Most people can’t simply move to a new country, set up shop, and start living a new life.
#3 is by far the most efficient and effective way of breaking your way into a foreign network. By using the people you already know, they can then introduce you to people they know.
Your network is your net worth,
This is clearly easier said than done. It takes years to build a powerful network of well connected people who are willing to help you out. It takes even longer to show your own network that the value you give them is equal to what they give you.
But once that mutual value is established, the doors really start to open. That’s why it’s so important to foster new relationships and stay in touch with old ones.
How are you building your network? Are you actively staying in contact with those you have met? How are you keeping track? Do you have a spreadsheet? A notebook? Lots of cocktail napkins?
Seriously. Start doing this. Now. I promise you won’t regret building out your list of valuable contacts throughout the world.